Aquestive Q1 2023 Earnings Report
Key Takeaways
Aquestive Therapeutics reported a revenue of $11.134 million and a net income of $8.068 million for Q1 2023. The company saw an increase in license and royalty revenue, co-development and research fees, and manufacture and supply revenue. They are advancing the development of Anaphylm and reaffirming their commitment to pursue early market access for Libervant.
Advanced development of AQST-109 (epinephrine sublingual film); received FDA conditional approval of brand name Anaphylmâ„¢
Raised full year 2023 revenue and non-GAAP adjusted EBITDA guidance
Reaffirmed commitment to pursue early market access for Libervantâ„¢ (diazepam) Buccal Film
Obtained dismissal of outstanding shareholder lawsuits
Aquestive
Aquestive
Forward Guidance
Aquestive updated its full-year 2023 financial guidance based on first quarter results and updated outlook for the remainder of 2023. The Company expects total revenue to be in the range of $42 to $46 million and non-GAAP adjusted EBITDA loss to be in the range of $24 to $28 million.